the method of least squares estimates the regression parameters in such a way that the sum of the squared difference between the actual Y values (i.e.‚ the values of the dependent variable) and the estimated Y values is as small as possible. (b) The estimators of the regression parameters obtained by the method of least squares. (c) An estimator being a random variable‚ its variance‚ like the variance of any random variable‚ measures the spread of the estimated values around the mean
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1 80 5.2 a. Construct a scatter diagram showing the hours against the unit numbers. Is the relationship between hours and unit numbers linear or non-linear? b. Construct a scatter diagram showing the ln(hours) against the ln(unit numbers). Comment on whether the relationship between ln(hours) and ln(unit numbers) is linear or non-linear. c. Using the linear regression method to derive the learning curve function (Please show your work by using the formulas in Lesson 02). What is the rate of learning
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part-worths) of the current favorite cereal is 75 for each child. Formulate a linear programming model that can be used to determine the product design that will maximize the share of choices for the seven children in the sample. Determine the optimal solution. b. Assume the overall utility of the current favorite cereal for children 1-4 is 70‚ and the overall utility of the current favorite cereal for children 5-7 is 80. Modify the linear programming model used to determine the product design that will maximize
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GROUP 1 ABSTRACT Analysis of Bharti airtel’s subscriber base was done using Time series analytical tools to develop predictive models. Different models linear‚ exponential were developed and December 2009 forecast was made using them. Our research revealed that subscriber growth is non linear thus best explained and predicted by exponential curve such as logistic curve. Introduction Tele-communication has evolved with time and in recent years with the growth in technology
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Plenum‚ 1988. Pratt‚ J. W.‚ H. Raiffa‚ and R. Schlaifer. Introduction to Statistical Decision Theory. MIT Press‚ 1995. Raiffa‚ H. Decision Analysis. McGraw-Hill‚ 1997. Krieger‚ 1978. Science 36‚ no. 3 (March 1990): 269–273. Ignizio‚ J. Introduction to Linear Goal Programming. Sage‚ 1986. Keeney‚ R. L.‚ and H. Raiffa. Decisions with Multiple Objectives: Preferences and Value Tradeoffs. Cambridge‚ 1993. Saaty‚ T. Multicriteria Decision Making‚ 2d ed. RWS‚ 1996. Science 36‚ no. 3 (March 1990): 259–268. Saaty
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equation. Assume that each set of information describes a linear relationship. Assume Y is the variable measured on the vertical axis and X is the variable measured on the horizontal axis. Write all equations in slope-intercept form. a. When X = 10‚ Y = 5 and when X = 7‚ Y = 2. Answer: First find the slope of the line: slope = rise/run = (5 – 2)/(10 – 7) = 1. Then‚ write the equation in general form: Y = mX + b and substitute one of the given points and the calculated
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[ 5 marks] b. Explain the nature of Operations Research and its limitations.[ 5 marks] 2. a. What are the essential characteristics of a linear programming model?[ 5 marks] b. Explain the graphical method of solving a LPP involving two variables.[ 5 marks] 3. a. Explain the simplex procedure to solve a linear programming problem. [ 5 marks] b. Explain the use of artificial variables in L.P [ 5 marks] 4. a. Explain the economic interpretation of dual variables. [ 5 marks] b. Define: Primal
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TUTORIAL 2 Linear Programming - Minimisation Special cases Simplex maximisation 1. Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client’s needs. For a new client‚ Innis has been authorised to invest up to $1.2 million in two investment funds: a stock fund and a money market fund. Each unit of the stock fund costs $50 and provides an annual rate of return of 10%; each unit of the money market fund costs
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the demand for the product. The consultant should also describe the methodology of a multiple linear regression and its purpose in estimating a demand function. The consultant should then run a multiple linear regression in linear and multiplicative forms based on the data provided by the company and report on the estimated result. They will have to evaluate the estimated demand equations both in linear and multiplicative forms‚ select the one‚ which can best describe the consumption. The consultant
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85%. Of course‚ they can opt to stay in their current state to prevent risks. a. Construct the decision tree showing the different decisions that the company can undergo. b. Compute the revenues and losses that the company might incur in making these decisions and determine which decision would be the best for the company. II. Linear Programming A. Café Therea is a newly opened business that produces two kinds of food. Rice Toppings and Mixed Rice Meals. Both of which use three kinds of ingredients:
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